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UK services sector activity continues to grow

5 November 2010
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UK services sector activity continues to growFurther expansion of activity in the UK's services sector was seen last month, new figures reveal.

According to the latest Purchasing Managers' Index (PMI) for the industry, October 2010 saw a climb from 52.8 in September to 53.2, with any number above 50 indicative of growth.

Published by Markit and the CIPS, the data for last month shows a further climb following a rise in activity from August to September, with new business driving the market.

However, the latest report by the companies has warned that the outlook for services businesses remains uncertain, particularly with companies waiting to determine what the impact of the government's Comprehensive Spending Review will be.

As a result, expectations among professionals in the sector remain cautious and Markit senior economist Paul Smith stated: "On both output and new orders measures, rates of expansion remain soft compared to long-run averages."

The latest services sector growth statistics defied analysts' expectations for October, as did the PMI for the manufacturing industry for the same month, which rose from 53.4 in September to 54.9.ADNFCR-3058-ID-800219394-ADNFCR
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